RFG Advisory LLC Has $2.95 Million Position in MercadoLibre, Inc. $MELI

RFG Advisory LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,736 shares of the company’s stock after purchasing an additional 423 shares during the quarter. RFG Advisory LLC’s holdings in MercadoLibre were worth $2,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter worth $29,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the 4th quarter valued at $28,000. Curio Wealth LLC bought a new position in MercadoLibre in the 4th quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in MercadoLibre in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,906.24 on Friday. The company’s fifty day moving average is $1,875.45 and its two-hundred day moving average is $1,767.40. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $96.65 billion, a price-to-earnings ratio of 51.84, a P/E/G ratio of 1.29 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the business earned $10.31 earnings per share. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, September 3rd. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.